EmpireOption Broker Review

EmpireOption offers promotional deals to its clients, although there are strict trading limits imposed on any withdrawal of profits. Its software is cutting edge and intuitive to use, even by novices, and there is excellent customer service support which is available through a range of methods including live chat. Clients who speak languages other than English will be pleased with the available multilingual provision by both telephone and email. Although this broker claims to offer more than 100 different assets for trading, there is no exact information about the precise assets on offer on their website.

Intro

EmpireOption is a popular broker, especially in South America. Offering a good range of educational options and handy tools to allow clients to make the most of their trading experience, this broker also offers several account types to cater for the needs of both new and advanced investors alike. Using cutting edge software and mobile technology, EmpireOption also offer informative daily trading tips to help clients to make informed trading decisions.

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Company Information

EmpireOption is part of the Lubona Enterprises Ltd brand and was established in 2010. Although this broker does not accept clients from the United States, it is open to investors around the rest of the world. It is the most popular broker in South America and is heavily geared towards this market. Although this broker is not licensed or regulated by any recognised authority, it does offer SSL encryption protection for all financial transactions.

Assets Available

EmpireOption offers assets across all of the main categories including currencies, commodities, indices and stocks, however there is no clear listing available on their website to show the number of assets of each class available to trade with. This broker does claim to have over 100 assets for investment.

Bonuses & VIP Programs

Although EmpireOption does claim to offer bonuses to its clients, there is no precise information on their homepage to confirm the amount or type of bonus available. Clients must request bonuses from the customer support team as they are not automatically credited to the client’s account, and in order to withdraw any profits, the client must trade 30 times their original deposit amount. EmpireOptions also offers secure trades as part of their promotional programme. VIP clients can benefit from their own dedicated account type which offers a number of special perks including 1 day withdrawals, one to one training and full access to tradebooks and seminars.

Mobile

As well as offering a convenient 100% web based trading interface which does not require the client to download or install any memory intensive programmes or software, but which enables them to quickly access their trading interface from any internet enabled device, EmpireOptions also has its own proprietary mobile app. This app can be downloaded from the broker’s website or from the Google Play Store or Apple Store and are suitable for use on either an Android smartphone or tablet or an iPhone or iPad. These apps give complete access to the client’s trading account with full ability to execute trades on the move as well as to enjoy all of the functions of the desktop platform.

Deposits and Withdrawals

EmpireOption offers both traditional and modern payment options for facilitating deposits and withdrawals. These include:

• Visa
• MasterCard
• Bank transfer
• Neteller
• Skrill

The minimum deposit which can be paid into the EmpireOption Micro account is $200. The terms and conditions relating to withdrawals of profits depends on the account type held:

Micro account – 10 day processing time with minimum withdrawals of 200 units and maximum withdrawals of 500 units per month. There is a fee of $30 per withdrawal and the minimum number of operations is 20.

Classic Account – 7 day processing time with minimum withdrawals of 100 units and maximum withdrawals of 2000 units per month. There is a $25 fee per withdrawal and the minimum number of operations is 15. It costs 50 units to close this account.

Plus Account – 5 day processing time with minimum withdrawals of 100 units and maximum withdrawals of 3500 units per month. There is a $20 fee per withdrawal and the minimum number of operations is 10. It costs 150 units to close this account.

Preferential Account – 3 day processing time with minimum withdrawals of 1 unit and maximum withdrawals of 5000 units per month. There is a $10 fee per withdrawal and the minimum number of operations is 5. The cost of closing this account is 500 units.

Empire VIP Account – 1 day processing time with minimum withdrawals of 1 unit and maximum withdrawals of 40,000 units per month. There is no fee for any withdrawal and the minimum number of operations is 5. It costs 3000 units to close this account.

For Classic account upwards, the first time you withdraw funds each month you will pay no fee.

Customer Support

EmpireOption has an impressive customer support system offered in many languages. There are several contact methods including:

• Live Chat
• Email
• Telephone helplines

This broker’s website is available in 6 languages for the benefit of their various customers and email support is also supplied in these languages. These include:

• English
• Russian
• Spanish
• German
• Portuguese
• French

There are telephone helplines based in the following countries:

• USA
• Spain
• Mexico
• Brazil
• France
• Venezuela
• Chile
• Colombia
• Peru

Extra Features and Resources

EmpireOption has some helpful educational resources designed to assist its clients in learning more about binary options trading. There are seminars, tradebooks and videos as well as one to one training classes exclusive financial signals and an exclusive trading simulator. EmpireOption also has a forum of social trading on its website, allowing traders to copy the trades of more experienced and skilled professional investors.

Verdict

EmpireOption has many positives to recommend it, however there are some negative points to consider too:

Pros

• Cutting edge trading software that is suitable for use by both experienced and novice traders
• 100% online trading interface requiring no installations or downloads
• Mobile trading app for both Android and iOS devices
• Instant customer support via the live chat facility
• Multilingual email support
• Numerous telephone helplines around the world
• Personal manager for all clients except Mini account holders
• Multilingual website
• VIP platinum account for high volume traders
• Free educational resources for clients at all levels of experience including videos, tradebooks and seminars
• Choice of several account types to suit the needs of all investors
• Strong SSL encryption across the website
• Excellent choice of deposit and withdrawal methods including e-Wallets
• Social trading forum

Cons

• Not regulated or licensed by any recognised authority
• Not accessible to US traders
• No frequently asked questions section to address rapid queries
• No option to open a free demonstration account

FAQ

Is EmpireOption a good choice for new traders?

If you are new to binary options trading, EmpireOption is a good choice for you. Their Mini account is designed to accommodate the needs of brand new investors and requires only a small minimum deposit of $200 to limit risk. This account is useful for finding your feet in the financial markets before progressing to a more advanced account level. As there are also plenty of free educational resources, you can also learn more about the basics of trading when you choose this broker.

What types of options can be traded through EmpireOption?

This broker offers 5 different option products including:

• 60 second options
• Pairs
• Long Term Options
• Short Term Options
• One Touch Options

EmpireOption also enables social trading so that clients can follow the trades of the most talented and experienced investors to maximise their profits.

Can I trade with EmpireOption using my mobile device?

EmpireOption have catered for the increasing numbers of clients who prefer to execute trades and check their positions while on the move from mobile devices. As well as offering an entirely web based trading interface which requires no downloads or installation for convenient access from devices other than PCs, this broker has also developed an iOS and an Android trading app which can be downloaded free of charge from the broker’s website.

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